Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more "fairly" distribute taxpayer-funded pensions to everyone.
Sen. Tom Harkin (D-Iowa), Chairman of the Health, Education, Labor and Pensions (HELP) Committee heard from hand-picked witnesses advocating the infamous "Guaranteed Retirement Account" (GRA) authored by Theresa Guilarducci.
The looters in Washington need more money. And they see that 3 Trillon in retirement accounts as ripe for the picking! You didn't think they were gonna simply raise your taxes did you?
Here's Dr Guilarducci's plan for your 401k. Note how taxes are called "contributions" and tax cuts are called "spending". Typical liberal-speak by people who think that everything belongs to government, and they're being nice to let you have the fruit of your own labors.